DOW rallied off news...whats tomorrow?

Woke up to see the futures up and the market rallying. I asked myself where did I go wrong? I loaded up market news, and the market was pumped by positive employment figures. It was also rallying off of news from Europe. Turns out another country voted to approve a European bailout. Of course we would get rallying from this. Even after the morning rally which ended 4.5 hours into trading, it was still unable to break the (44) moving average that I posted on yesterdays blog in a chart. I will be posting an updated DOW chart showing the market still unable to break through resistance. 4.5 hours into trading (11 am Pacific Time), the market began to pull back as I originally fore-casted. The DOW being up 250 points or so slipped back into negatives. Being up around 50 dollars in EDZ, I knew if the market continued downwards, I was going to have a great day. My long plays were slipping back of course following the market, but they are dividend plays, so that is the least of my worries. Turns out positive market news of another country approving the European bailout sparked the DOW and I quickly played the transition, sold EDZ, which brought me a small profit. I am more or less even from two days ago now. Nothing we can do about news coming out. Only try to play the transition. Moral of the story, there is no way to predict market news, only transition.

Net Asset Value= 3268.37(Cash and Assets) , (-$4.02 from starting point)

Cash buying power= $1849.79

Trade Executions I Made Today

EDZ- Sold 21 shares, 29.08

Sold EDZ to lock in some profits. The profits acquired from this trade covered selling costs thus far. I feel I am in good position from here.

MARKET ANALYSIS FOR TOMORROW

DOW

*Today the Dow (DJIA) rallied from positive economic news, from then it pulled back, then rallied again. Not sure what tomorrow will bring.

*Chart Indicators : W%R- Crossed upwards ( buy) , MACD- Sideways (Hold) , RSI – verge of crossing (buy/hold)

The indicators from today indicate the DOW may have some upward movement tomorrow.

The DOW appears to have some movement upward. It still is unable to break through the (44) day moving average (circled in green), so I may wait for market to rally to resistance point, then purchase EDZ again for the ride down. Or if market does go down, may pick up some ARR, AGNC, or AT if they hit support.

NEWS

*Rather positive. May indicate rally tomorrow morning.

GENERAL INFORMATION

As of right now, I am not completely sure which way it will head. I have a plan to pick up EDZ if it hits resistance, or to watch for entry points on ARR, AT, or AGNC if the market pullsback. If I pick up EDZ at (44) day resistance, and it seems to break through, I may cut EDZ loose because I am on the wrong side of the trade.

Possible entry points for tomorrow

ARR- 6.70

AGNC- 26.00

AT-13.75

Happy Trading! From OC, CA.
H2o